PPRuNe Forums - View Single Post - Ettyl
Thread: Ettyl
View Single Post
Old 12th Jun 2021, 14:16
  #72 (permalink)  
Pat UK
 
Join Date: May 2021
Location: UK
Posts: 32
Likes: 0
Received 0 Likes on 0 Posts
I've recently read this on the BBC:

"Stobart Air staff received an email from the company's managing director on Friday night informing them of the situation.

It outlined that Ettyl Limited, a company based in the Isle of Man, had agreed terms with Esken, the owners of Stobart Air, to buy the company.

However, according to the email, Esken discovered on Thursday evening Ettyl Limited was unable to acquire the company "on the original terms" or "obtain an alternative funding package within the required timescale"."

I've read and reread it a few times and as I interpret it Stobart made a last ditch attempt to Ettyl on Thursday at which time Ettyl didn't have the financing available leaving Stobart with no other option than to close the doors, no suggestion that Ettyl pulled out of the deal, moreso that Stobart ran out of time.
Pat UK is offline